appraisal waivers Archives

Iran Tensions Push Rates Up Again; Dead Boomers – Good or Bad? Appraisal Waivers Saving Deals!

May 4, 2026/in Mortgage, JVM's Daily Blog

Mortgage rates bottomed out at 5.99% on February 27th – the day before the Iran war started. Rates peaked one month later on March 27th – hitting 6.625%. Rates then fell steadily into April but have since been rising in response to escalating tensions and rising oil prices. I share all this because rates shot up again today in response to Trump’s latest action, called “Project Higher Interest Rates.” OK – actually it is called “Project Freedom.” It is an effort by the U.S. to restore freedom of navigation through the Strait of Hormuz and free stranded commercial vessels. This action escalated tensions and pushed oil prices (the main cause of higher rates) higher again. Today’s average mortgage rate is 6.52%. We’re still below the peak we saw in March, but we’re getting close.Read More

No Income Loans – Better Than Ever; Expect More Appraisal Waivers; Buyers Missing Fall Bargains

October 30, 2024/in Homebuying, JVM's Daily Blog

All a borrower needs to qualify for a $1 million, 80% loan-to-value loan at 7.0% is about $1.5 million in relatively liquid assets such as savings, stocks, bonds, etc. (note: real estate equity does not count).Read More

Appraisal Waivers Are GIFTS From Fannie Mae; PIWs & PDCs; Appraisal Types

May 13, 2024/in Appraisals, JVM's Daily Blog

In what is great news for every agent concerned about low appraisals - we have seen a significant increase in the number of Property Inspection Waivers (PIWs) and Property Data Collection reports (PDCs).Read More

How Likely Are You to Get an Appraisal Waiver? Hint: Not Very :)

November 12, 2021/in JVM's Daily Blog, Appraisals

Why We Refused Refinances In 2020 This is a quick aside but a reminder that we stopped accepting refinance applications in 2020. It cost us millions in lost revenue but […]Read More

Do Homebuyers in California Need An Appraisal For The Home They’re Buying?

May 10, 2021/in Appraisals, C-Blog Category, Homebuying

Unless you plan on paying all cash for your new property, you will likely need a home appraisal in California. But “appraisal waivers” are becoming increasingly common now for certain types of financing, and we explain why below.Read More

Fires, Hurricanes, Appraisals & Delays; Agent Resource Guide

August 24, 2020/in JVM's Daily Blog, Mortgage Industry

In Friday’s Blog, I mentioned how we were losing Appraisal or Property Inspection Waivers (PIWs) b/c of the fires in NorCal, but I made an error. Underwriters are not always […]Read More

No Appraisal Waivers In Fire Areas; Pest Reports Must Be Under 90 Days Old; Pre-Approvals Can Take 3+ Hours

August 21, 2020/in JVM's Daily Blog, Mortgage Industry

Here are a few quick updates/reminders. APPRAISAL WAIVERS – NO MAS IN “FIRE AREAS” (Re-inspections too) We have been getting far more appraisal or property inspection waivers (PIWs) over the […]Read More

Why We Say A $2 Million Home Is Worth $999,000; Best Month Ever For Mortgage Rates

July 1, 2020/in JVM's Daily Blog, Appraisals

“PIWs” REIGN SUPREME “PIW” stands for Property Inspection Waiver or an Appraisal Waiver. We are getting more of them than ever before, making both refinances and purchases faster, easier and […]Read More

Why Do You Need A Home Appraisal For A Refinance?

May 21, 2020/in Appraisals, C-Blog Category, Refinance

Home appraisals are a valuable tool for homeowners who are pursuing a refinance. Refinance appraisals are used to assess a home’s value, determine the limits of cash-out refinancing, and establish how risky lenders will view the loan Homeowners should consider getting their home appraised in the process of refinancing because it helps protect their equity and get the most out of their loan.Read More